During Friday’s Mid-Morning trade, Shares of Morgan Stanley (NYSE:MS), lost -1.60 % to $35.60.
The Nasdaq Private Market, LLC and Morgan Stanley Wealth Administration (MSWM) declared a joint initiative to make accessible wealth administration education and services to employees and participants in private company liquidity programs.
Wealth administration services will be offered by MSWM’s Palo Alto Group, led by Mark Curtis and Karen McDonald, a leading financial advisor team focused on the reinvestment of liquidation proceeds from employee stock plans. The Palo Alto Group will work with founders and employees who seek wealth administration services following their participation in a liquidity program on the Nasdaq Private Market platform.
“At Nasdaq Private Market, we are always looking for opportunities to assist our client companies in effectively managing their equity ownership and further enhancing their relationships with employees and other shareholders,” said Carine Schneider, President of Equity Solutions, Nasdaq Private Market. “We believe Morgan Stanley Wealth Administration can provide an important service to employees of those companies, many of whom may be experiencing a noteworthy wealth event for the first time.”
Nasdaq Private Market offers a range of solutions to assist private companies enable their founders, employees and other shareholders to sell a portion of their shares in a company-controlled program.
Morgan Stanley Wealth Administration, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, counting brokerage and investment advisory services, financial and wealth planning, banking services, annuities and insurance, retirement and trust services.
Morgan Stanley (MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth administration and investment administration services. With offices in more than 43 countries, the Firm’s employees serve clients worldwide counting corporations, governments, institutions and individuals.
Shares of Nabors Industries Ltd (NYSE:NBR), declined -0.39% to $10.14, during its current trading session, after oil prices dipped as top oil-consuming countries experience an economic slowdown.
WTI crude is falling 1.39% to $41.91 per barrel, while Brent crude is declining 0.85% to $48.77 per barrel, according to the CNBC.com index.
China’s economic woes continue to weigh on the market after the country devalued its currency, which dropped 3% last week, Reuters reports.
Japan is also facing slower economic growth and stated a 1.6% decline in its annual growth rate due to less exports.
Additionally, U.S. and European demand for crude oil is predictable to decline in the fall as refineries start shutting down for maintenance, Reuters added.
U.S. crude prices have been decreasing for seven weeks on reports suggesting higher U.S. production, while Brent is being weighed down by a global overproduction.
Nabors Industries Ltd., together with its auxiliaries, provides drilling and rig services. The company offers rig instrumentation, optimization software, and directional drilling services. It also provides completion, life-of-well maintenance, and plugging and abandonment of a well. In addition, the company markets about 466 land drilling rigs for oil and gas land-based drilling operations in the United States, Canada, and about 20 other countries worldwide; about 445 rigs for land well-servicing and workover services in the United States; 98 rigs for land well-servicing and workover services in Canada; 42 rigs for offshore drilling operations in the United States and internationally; and 7 jackup units and components of trucks and fluid hauling vehicles.
Finally, Kohl’s Corporation (NYSE:KSS), declined -1.10 %, and is now trading at $53.09.
Kohl’s Corporation, declared that its Board of Directors has elected Jonas Prising as a new board member, effective right away. He has been elected to a term expiring at Kohl’s 2016 annual shareholders meeting and will be eligible for re-election by Kohl’s shareholders at that time. He will initially serve on the Board of Directors’ Governance and Nominating Committee.
Mr. Prising is Chief Executive Officer of ManpowerGroup, where he has held a number of executive administration positions since joining in 1999.
“Jonas is a great addition to our board,” said Kevin Mansell, Kohl’s chairman, chief executive officer and president. “His leadership of a major corporation with complex operations and his broad-based knowledge of workforce solutions and labor market expertise will be valuable assets to Kohl’s.”
Kohl’s Corporation operates department stores in the United States. It offers private label, exclusive, and national brand apparel, footwear, accessories, beauty, and home products to children, men, and women customers.
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